Transcript Slide 1

Fire Island Wind

CIRI, through its Fire Island Wind LLC subsidiary, is developing Southcentral Alaska’s first utility-scale wind project Aerial view of Fire Island photo from fact sheet

Project Overview

• Located on Fire Island, near Railbelt load center, three miles west of Anchorage • First power fall 2012 • Chugach Electric Association power purchase agreement 25-year term starts Jan. 1, 2013

Project description

• • • • • • 11 General Electric 1.6 MW XLE wind turbines 17.6 MW capacity 32.8 percent net capacity factor 51,000 MW-hours annually ~ 6,000 households Offset 0.5 bcf natural gas consumption annually On-island infra-structure: roads, electrical collection and transmission systems and operations and maintenance building with overnight facilities • Subsequent phases could include up to 33 turbines

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Project Status Report

Chugach is buyer for up to 100 % of first phase power Regulatory Commission of Alaska approved inclusion of cost for FIW power in CEA’s rates • Financing complete. All contracts and permits are complete.

Transmission Interconnection

• 12.5 mile double-circuit transmission line • $25 million State of Alaska appropriation • Construction managed by CIRI • Land based construction contractor • Submarine based construction contractor • Transmission cable and switchgear • Chugach to own and maintain line at COD

Construction Contractors

Delaney Construction Group

Northern Powerline Constructors

Cruz Construction Local Supplemental Contractors

IBEW

GMC

Spernak

Chugach Electric

CRW, RSE, EPS, D&L, TBC

Hydro Ax, Alaska Structures

Carlos Tree Service, NW Landscaping

Project Schedule

2011

• • RCA approval of power purchase agreement Complete all commercial contracts and financing • Complete transmission-related construction contracts • • Complete civil and structural BOP engineering Order long lead-time construction materials • Complete transmission-related pre-construction field work

Project Schedule

Project Schedule

Project Schedule

2012

• Complete on-island civil and electrical construction • • • Construct O&M facility Deliver and erect wind turbines • Construct transmission interconnection Project commissioning – wind turbines and intertie • Commercial operation

Project supports Alaska energy goals

Sustainable energy project

• Private investment • Creates many local jobs • Locally owned and operated • Local energy supply diversification • Long-term energy price stability • Environmentally responsible